Truck Load Rates Halt 8 Week Slide 2.0

Discussion in 'Freight Broker Forum' started by Scooter Jones, Mar 7, 2020.

  1. Dave_in_AZ

    Dave_in_AZ Road Train Member

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    I'd think so too. So why would someone take out a $10K loan then?
     
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  3. Scooter Jones

    Scooter Jones Road Train Member

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    I watched an interview that Mark Cuban gave last night. He is worth BILLIONS of dollars. He owns or has interests in multiple business enterprises that qualify for the PPP.

    Those companies (he has interests in) are utilizing the PPP loan where they can, why? Because if used for it's intended purpose, the loan is underwritten and forgiven through the money ALREADY allocated by the same politicians who shut-down a high percentage of the economy right now.

    Even the portion that has to be paid back is at such a low interest rate, with such favorable pay-back terms, someone with his business acumen would be foolish not to take it.

    He's no dummy...

    If someone wants to invoke the "I have integrity" and would never take a "hand-out" from the government, I guess that's their prerogative .
     
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  4. Dave_in_AZ

    Dave_in_AZ Road Train Member

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    Kind of like when the cool kids offer your kid a joint.
     
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  5. Boardhauler

    Boardhauler Road Train Member

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    I assume you're quoting our buddy Aaron there.

    I'm really curious about what his plan is for the upcoming Irwindale shutdown. My (fairly) good friend who is totally dependant on Miller for his northbound freight didn't have a clue last time we talked.

    I think the COVID-19 thing mixed with all that Coors Light going away could be a problem for more than one company.
     
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  6. Dave_in_AZ

    Dave_in_AZ Road Train Member

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    Folks that made lanterns and candles took a little hit when Edison came along.
     
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  7. Scooter Jones

    Scooter Jones Road Train Member

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    Don't know for sure what his plans are on that. He tends to be able to adapt. I'm sure he has already begun to plan accordingly, however, I'm not privy to what that is or would be.
     
  8. SteveScott

    SteveScott Road Train Member

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    Perhaps, but my buggy whip stock is kicking butt.
     
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  9. Scooter Jones

    Scooter Jones Road Train Member

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    This 10 minute story puts into perspective what's happening to a major segment of business. And what the likely effects will be ongoing into the future.

    It's not like businesses will be able to turn the lights back on and pick up where they left off.
     
  10. 062

    062 Road Train Member

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    One thing they didn’t mention is fresh products. The places that have shut down will have to dump some of their inventory and then replace it. That’s basically going to double their price on the product.
    Then you have the problem of trying to acquire the product to get back going. I don’t think any of the food service distributors are going to be ordering large amounts of fresh veggies to anticipate when restaurants will open. Restaurants may have to wait a week or two for the product, but will the customer understand when they can’t get lettuce and tomato on a burger or their favorite salad.
     
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  11. Oscar the KW

    Oscar the KW Going Tarpless

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